CGCF funds $20MM equipment operating lease for start-up, venture-backed online retailer with virtually no hard assets and multiple vendors while maintaining compliance with strict bank covenants.
|Equipment:||Racking, specialized warehousing and carousel equipment for new distribution warehouse|
|Lessee:||Zappos is an online footwear retailer stocks over one million pairs of shoes and handbags, specializing in more than 300 brands|
|Transaction:||$20,000,000 60 month Operating Lease with EOT purchase option|
|Highlights:||CGCF successfully secured financing for a start-up, venture-backed company in compliance with strict bank covenants assessed on a rolling quarterly basis. CGCF was able to structure the transaction despite the high percentage of soft costs, such as highly specialized warehouse equipment, racking, shelving and installation.
In addition, CGCF’s project management team processed and fulfilled multiple schedules, vendors and short-term progress payments in order to support the Zappo’s continued growth and expansion.
CG Commercial Finance gives you competitive advantages with our robust funding capabilities which include long-term installation funding, numerous delivery schedules and the ability to finance soft costs and services to provide over 100% financing, which in turn maximizes profit for you.